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GovTech

Blockchain in GovTech

“GovTech” is the term used to refer to technology—including blockchain—for use by public sector institutions.

Governments globally struggle with fraud, waste, abuse, and mismanagement of government resources often due to inefficiencies from outdated, disparate or multiple systems. Government pain points include slow, complex real property registers and transfers, limited access to liquidity, significant lags in payments due to reconciliations, and ineffective tracking of procurement goods and services.

Why Corda?

Enables government—local, state, and federal—to become more efficient, responsive, and better able to serve society

Improves the transparency of the entire transaction recording process—including digitally signed agreements and streamlined ID verification

Inform modelling currency on ledger and the impact central bank digital currencies would have on money supply and monetary policy

Provides a single immutable record visible only to counter-parties relevant to a transaction

Featured CorDapps

Instant Property Network

Improving the process of property transactions with institutions including HM Land Registry and HM Revenue and Customs

UBIN

Developing an interbank domestic payments solution with the Monetary Authority of Singapore

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